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Economic growth to slow if RBI hikes rates: Finance secy Somanathan

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The central bank hiked its repo rate by 40 basis points (bps) to 4.40 per cent following an emergency meeting earlier this month

Topics
Indian economic growth | Indian Economy | RBI monetary policy

Reuters 

Finance Secretary T V Somanathan

Finance Secretary T V Somanathan

India’s economic growth rate is likely to slow if the central bank hikes interest rates, finance secretary T V Somanathan told CNBC TV18 on Thursday.

The Reserve Bank of India is likely to raise its inflation projection for the current fiscal year at its June monetary policy meeting and will consider more interest rate hikes, a source said on Wednesday.

The central bank hiked its repo rate by 40 basis points (bps) to 4.40 per cent following an emergency meeting earlier this month.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Fri, May 13 2022. 00:10 IST

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